Loans Held for Investment (Tables)

6 Months Ended

Jun. 30, 2018

Receivables [Abstract]

Schedule of Accounts, Notes, Loans and Financing Receivable

Loans held for investment are summarized as follows:

	June 30,			December 31,
	2018			2017
Private Education Loans:
Fixed rate	$	5,086,329		$	4,000,447
Variable rate	13,601,698			13,431,720
Total Private Education Loans, gross	18,688,027			17,432,167
Deferred origination costs and unamortized premium/(discount)	61,908			56,378
Allowance for loan losses	(261,695		)	(243,715		)
Total Private Education Loans, net	18,488,240			17,244,830
FFELP Loans	885,357			927,660
Deferred origination costs and unamortized premium/(discount)	2,496			2,631
Allowance for loan losses	(1,073		)	(1,132		)
Total FFELP Loans, net	886,780			929,159
Personal Loans (fixed rate)	966,080			400,280
Deferred origination costs and unamortized premium/(discount)	(10		)	—
Allowance for loan losses	(32,509		)	(6,628		)
Total Personal Loans, net	933,561			393,652
Loans held for investment, net	$	20,308,581		$	18,567,641

The average balance and the respective weighted average interest rates of loans in our portfolio are summarized as follows:

	Three Months Ended
	June 30,
	2018				2017
	Average Balance		Weighted Average Interest Rate		Average Balance		Weighted Average Interest Rate
Private Education Loans	$	18,764,768	9.03	%	$	15,687,803	8.33	%
FFELP Loans	898,095		4.51		980,478		3.87
Personal Loans	815,356		10.65		60,910		9.28
Total portfolio	$	20,478,219			$	16,729,191

	Six Months Ended
	June 30,
	2018				2017
	Average Balance		Weighted Average Interest Rate		Average Balance		Weighted Average Interest Rate
Private Education Loans	$	18,712,533	8.93	%	$	15,569,337	8.30	%
FFELP Loans	908,846		4.38		991,740		3.78
Personal Loans	672,792		10.65		48,464		9.24
Total portfolio	$	20,294,171			$	16,609,541

The following table provides the average recorded investment and interest income recognized for our TDR loans.

	Three Months Ended   June 30,
	2018				2017
	Average Recorded Investment		Interest Income Recognized		Average Recorded Investment		Interest Income Recognized
TDR Loans	$	1,105,042	$	18,718	$	766,171	$	14,310

	Six Months Ended   June 30,
	2018				2017
	Average Recorded Investment		Interest Income Recognized		Average Recorded Investment		Interest Income Recognized
TDR Loans	$	1,069,721	$	36,565	$	718,727	$	26,567